Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Use Tax 2022 Table Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables
Use Tax 2022 Table
Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the Tax Tables to compute tax liability. Required: a. Married taxpayers, who file a joint return, have taxable income of \\( \\$ 97,813 \\). b. Married taxpayers, who file a joint return, have taxable income of \\( \\$ 67,179 \\). Note: For all requirements, round \"Average tax rate\" to \\( \\mathbf{2} \\) decimal places. Answer is complete but not entirely correct. 97,000 67,000 \\begin{tabular}{|l|l|l|l|l|l|} \\hline \\( \\mathbf{6 7 , 0 0 0} \\) & \\( \\mathbf{6 7 , 0 5 0} \\) & 10,363 & 7,632 & 10,363 & 8,863 \\\\ \\hline \\( \\mathbf{6 7 , 0 5 0} \\) & \\( \\mathbf{6 7 , 1 0 0} \\) & 10,374 & 7,638 & 10,374 & 8,874 \\\\ \\hline \\( \\mathbf{6 7 , 1 0 0} \\) & \\( \\mathbf{6 7 , 1 5 0} \\) & 10,385 & 7,644 & 10,385 & 8,885 \\\\ \\hline \\( \\mathbf{6 7 , 1 5 0} \\) & \\( \\mathbf{6 7 , 2 0 0} \\) & 10,396 & 7,650 & 10,396 & 8,896 \\\\ \\hline \\( \\mathbf{6 7 , 2 0 0} \\) & \\( \\mathbf{6 7 , 2 5 0} \\) & 10,407 & 7,656 & 10,407 & 8,907 \\\\ \\hline \\( \\mathbf{6 7 , 2 5 0} \\) & \\( \\mathbf{6 7 , 3 0 0} \\) & 10,418 & 7,662 & 10,418 & 8,918 \\\\ \\hline \\( \\mathbf{6 7 , 3 0 0} \\) & \\( \\mathbf{6 7 , 3 5 0} \\) & 10,429 & 7,668 & 10,429 & 8,929 \\\\ \\( \\mathbf{6 7 , 3 5 0} \\) & \\( \\mathbf{6 7 , 4 0 0} \\) & 10,440 & 7,674 & 10,440 & 8,940 \\\\ \\( \\mathbf{6 7 , 4 0 0} \\) & \\( \\mathbf{6 7 , 4 5 0} \\) & 10,451 & 7,680 & 10,451 & 8,951 \\\\ \\( \\mathbf{6 7 , 4 5 0} \\) & \\( \\mathbf{6 7 , 5 0 0} \\) & 10,462 & 7,686 & 10,462 & 8,962 \\\\ \\hline \\( \\mathbf{6 7 , 5 0 0} \\) & \\( \\mathbf{6 7 , 5 5 0} \\) & 10,473 & 7,692 & 10,473 & 8,973 \\\\ \\hline \\( \\mathbf{6 7 , 5 5 0} \\) & \\( \\mathbf{6 7 , 6 0 0} \\) & 10,484 & 7,698 & 10,484 & 8,984 \\\\ \\hline \\( \\mathbf{6 7 , 6 0 0} \\) & \\( \\mathbf{6 7 , 6 5 0} \\) & 10,495 & 7,704 & 10,495 & 8,995 \\\\ \\hline \\( \\mathbf{6 7 , 6 5 0} \\) & \\( \\mathbf{6 7 , 7 0 0} \\) & 10,506 & 7,710 & 10,506 & 9,006 \\\\ \\hline \\( \\mathbf{6 7 , 7 0 0} \\) & \\( \\mathbf{6 7 , 7 5 0} \\) & 10,517 & 7,716 & 10,517 & 9,017 \\\\ \\hline \\( \\mathbf{6 7 , 7 5 0} \\) & \\( \\mathbf{6 7 , 8 0 0} \\) & 10,528 & 7,722 & 10,528 & 9,028 \\\\ \\hline \\( \\mathbf{6 7 , 8 0 0} \\) & \\( \\mathbf{6 7 , 8 5 0} \\) & 10,539 & 7,728 & 10,539 & 9,039 \\\\ \\( \\mathbf{6 7 , 8 5 0} \\) & \\( \\mathbf{6 7 , 9 0 0} \\) & 10,550 & 7,734 & 10,550 & 9,050 \\\\ \\( \\mathbf{6 7 , 9 0 0} \\) & \\( \\mathbf{6 7 , 9 5 0} \\) & 10,561 & 7,740 & 10,561 & 9,061 \\\\ \\( \\mathbf{6 7 , 9 5 0} \\) & \\( \\mathbf{6 8 , 0 0 0} \\) & 10,572 & 7,746 & 10,572 & 9,072 \\\\ \\hline \\end{tabular}Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started